The Civil War

The Civil War — page 3
8 THE CIVIL WAR inexpensive widely available newspapers magazines and books along with the telegraph By contrast the Southern economy was based principally on large farms plantations that produced commercial crops such as cotton and that relied on slaves as the main labor force Rather than invest in factories or railroads as Northerners had done Southerners invested their money in slaves even more than in land By 1860 84 percent of the capital invested in manufacturing was invested in the free nonslave holding states Yet to Southerners as late as 1860 this appeared to be a sound business decision The price of cotton the South’s defining crop had skyrocketed in the 1850s and the value of slaves who were after all property rose correspondingly By 1860 the per capita wealth of Southern whites was twice that of Northerners and three-fifths of the wealthiest indi viduals in the country were Southerners The extension of slavery into new territories and states had been an issue as far back as the North west Ordinance of 1784 When the slave territory of Missouri sought statehood in 1818 Congress debated for two years before arriving at the Missouri Compromise of 1820 This was the first of a series of political deals that resulted from arguments between proslavery and antislavery forces over the expansion of the peculiar institution as it was known into the West The end of the Mexican-American War in 1848 and the roughly 500,000 square miles 1 3 million